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With a growing push for stablecoin licenses worldwide, JD.com Chairman Liu Qiangdong envisions fiat-pegged tokens transforming cross-border payments by enabling settlements within seconds. His ambitious plan aims to achieve 10-second transaction settlements across continents, leveraging licensed stablecoins and JD.com’s expansive e-commerce network.

The Vision: Faster, Cheaper Cross-Border Payments

Technology-driven e-commerce giant JD.com is actively pursuing stablecoin licenses in major global economies. During a corporate sharing session on June 17, Chairman Liu Qiangdong outlined a bold strategy to utilize blockchain-based stablecoins for international transactions. The goal? To reduce settlement times from days to seconds while slashing transaction costs by up to 90%.

“Currently, it takes an average of 2 to 4 days to transfer money between companies, and the associated costs are high. After addressing B2B payments, we plan to expand into consumer payments. Our vision is for JD stablecoins to be widely used for global transactions,” Liu stated.

JD.com’s Blockchain Initiatives

JD.com’s stablecoin ambitions are backed by its subsidiary, Jingdong Technology, which has been operating within Hong Kong’s fintech sandbox since early 2024. The company has been piloting stablecoin use cases specifically for cross-border supplier payments. These efforts are built on JD’s proprietary blockchain platform, Zhizhen Chain, which already facilitates over $7 billion annually in supply chain finance transactions.

This methodical approach aligns with strategies employed by other major players like Ant Group. By first deploying blockchain solutions internally and proving their effectiveness, JD.com aims to monetize these systems at scale.

Competition and Strategic Advantages

JD.com is entering a competitive landscape. Chinese rival Ant Group is also seeking a Hong Kong stablecoin license, while Western corporations like Amazon and Walmart are exploring blockchain-based payment systems. However, JD.com has a unique advantage: its extensive ecosystem. With nearly 600 million active users and a logistics network spanning 20 countries, the company can seamlessly onboard merchants and consumers to its stablecoin ecosystem.

This captive audience mirrors the approach taken by Alipay, which dominates the Chinese payments market. By integrating stablecoin payments into its existing network, JD.com could potentially achieve widespread adoption faster than its competitors.

What This Means for the Future

JD.com’s stablecoin initiative marks a significant step in the evolution of global payments. If successful, it could challenge traditional systems like SWIFT, which have long dominated international corporate transactions. With reduced costs, faster settlements, and an integrated ecosystem, stablecoins could reshape the way businesses and consumers interact financially across borders.

The race for stablecoin adoption is heating up, and JD.com’s strategic positioning gives it a strong foundation to lead this transformative shift. As the company continues to refine its technology and expand its reach, the impact on the global financial landscape could be profound.

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